Linscomb Wealth Inc. Has $877,000 Holdings in Cadence Bank (NYSE:CADE)

Linscomb Wealth Inc. cut its stake in shares of Cadence Bank (NYSE:CADE) by 57.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,230 shares of the company’s stock after selling 41,342 shares during the period. Linscomb Wealth Inc.’s holdings in Cadence Bank were worth $877,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CADE. Dimensional Fund Advisors LP raised its position in shares of Cadence Bank by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,240,127 shares of the company’s stock valued at $273,421,000 after buying an additional 376,989 shares in the last quarter. Halter Ferguson Financial Inc. acquired a new stake in shares of Cadence Bank in the fourth quarter valued at approximately $3,023,000. Vanguard Group Inc. raised its position in shares of Cadence Bank by 4.9% in the first quarter. Vanguard Group Inc. now owns 20,271,283 shares of the company’s stock valued at $587,867,000 after buying an additional 940,895 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of Cadence Bank by 49.4% in the fourth quarter. New York State Common Retirement Fund now owns 112,255 shares of the company’s stock valued at $3,322,000 after buying an additional 37,129 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Cadence Bank by 32.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 68,892 shares of the company’s stock valued at $1,998,000 after buying an additional 16,850 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on CADE. Hovde Group boosted their target price on shares of Cadence Bank from $33.00 to $36.50 and gave the stock an “outperform” rating in a research note on Wednesday. Royal Bank of Canada boosted their target price on shares of Cadence Bank from $31.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Stephens reissued an “overweight” rating and issued a $35.00 price objective on shares of Cadence Bank in a research note on Tuesday. Jefferies Financial Group reduced their price objective on shares of Cadence Bank from $31.00 to $29.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Finally, Truist Financial boosted their price objective on shares of Cadence Bank from $31.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Cadence Bank currently has a consensus rating of “Moderate Buy” and an average target price of $33.79.

Cadence Bank Stock Up 0.4 %

CADE stock traded up $0.14 during trading on Friday, reaching $33.51. The stock had a trading volume of 2,069,364 shares, compared to its average volume of 1,579,143. Cadence Bank has a one year low of $19.67 and a one year high of $34.13. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average is $28.96 and its two-hundred day moving average is $28.29. The company has a market capitalization of $6.11 billion, a price-to-earnings ratio of 10.71 and a beta of 0.98.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings data on Monday, July 22nd. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.08. Cadence Bank had a net margin of 24.42% and a return on equity of 8.82%. The business had revenue of $742.87 million during the quarter, compared to the consensus estimate of $439.63 million. During the same period in the prior year, the firm posted $0.64 EPS. Equities research analysts forecast that Cadence Bank will post 2.55 EPS for the current year.

Cadence Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.98%. The ex-dividend date is Friday, September 13th. Cadence Bank’s dividend payout ratio (DPR) is presently 31.95%.

Cadence Bank Profile

Cadence Bank provides commercial banking and financial services. Its products and services include consumer banking, consumer loans, mortgages, home equity lines and loans, credit cards, commercial and business banking, treasury management, specialized and asset-based lending, commercial real estate, equipment financing, and correspondent banking services.